@redacted‌, I interpret your query to mean that you want to do the QoE yourself. If so, I agree with @redacted‌ and would recommend that your reconsider that approach; fulsome QoE requires professional accountancy skills. That being said, @redacted‌'s suggestion is a worthwhile way to get a preview of the situation and may provide an early signal as to whether your should proceed with the deal or bail.

John, you read it right. Those four documents aren't a QoE and they don't replace one. What they tell you is whether the deal has earned one before you spend the money. If Brandon's deal is SBA financed, there's a change coming worth knowing about. Starting October 1, under SOPredacted, an initial acquisition or business expansion with a business purchase price of $3M or more requires a QoE prepared for the lender. The lender orders it, so a QoE the buyer pays for on his own won't satisfy it, and he could end up paying for two. The $3M is the price of the business before any seller note or equity goes in, not the loan amount, so you can't structure your way under it. Under $3M, a lot of smaller deals don't get a QoE at all. That's where checking those four documents early does the most good. Brandon, whichever side of that line you're on, ask your lender early how they'll handle it on your file. They make the final call.